|
|
|
| Price Water House to assist Goldstone Technologies in restructuring exercise |
| Goldstone Technologies Ltd. has informed BSE that the Board of Directors of the Company at its meeting held on July 17,2000 had decided to demerge/hive off the telecom division of the company into a separate entity . Price Water House Coopers Ltd. have been appointed to carry out the restructuring exercise. As a part of the assignment PWC will undertake evaluation of the telecom division to arrive a fair market value in order to enable transfer of telecom business to a separate company. Further PWC will also assist the company in the procedural aspects in fulfilling the recommended option. The exercise is expected to be completed sometime during the first week of September 2000 and the report submitted by PWC will be placed before the Board of Directors and considered. |
| Timex Watches Ltd. has informed BSE that an urgent meeting of the Board of Directors of the Company was convened today (August 17,2000) at 5.00 PM at The Belvedere,The Oberoi, New Delhi and the resignation of Mr R J Masilamani as Managing Director, Director and employee of the Company was accepted after discussions. |
| Larsen & Toubro to build Rs 530/- million stadium in Qatar |
Larsen & Toubro Ltd. has informed BSE that the International Operation Unit of ECC the Construction Division of Larsen & Toubro Limited (L&T) was awarded a contract for the construction of a 25,000 capacity sports stadium for the Al Rayyan Club at Umm-Al-Afaai and a 20,000 capacity stadium at Gharaffa in Doha Qatar.
The value of the project is equivalent to Rs 530 million. The project is a fast track job of 10 months duration with the completion date fixed at June 1,2001.The contract was signed between ECC as associate contractor and Contraco W.L.L at Doha as the main contractor for the project. The client for the stadium is the Youth and Sports General Authority of Qatar. |
| Onward Technologies to consider allotment of equity shares under ESOS |
| Onward Technologies Ltd. has informed BSE that the Board of Directors of the company has been convened on August 26,2000 to consider and take on record the audited financial records of the company for the year ended June 30, 2000 and the allotment of equity shares to the warrant under holders under the Employees Stock Option Scheme of the company. |
| Morgan Stanley's holding in Container Corporation crosses 5% |
| Container Corporation of India Ltd. has informed BSE that the aggregate shareholding of Morgan Stanley Dean Witter Investment Management Inc - Morgan Stanley Dean Witter India Investment Fund Inc. has crossed 5% of the shares of the Company by purchasing 2,80,000 additional shares aggregating 34,84,718 shares (5.3619%). |
| Ciba Specialty acquires balance 50% stake in Indo-Swiss Textile |
Ciba Specialty Chemicals (India) Limited. has informed BSE that it has acquired 34,30,000 equity shares of Rs 10/- each at par of Indo-Swiss Textile Chemicals Ltd.(ISTCL) representing 49% of the paid-up share capital of ISTCL held by IDI Ltd. (29%) and its Associate Company (20%) as per agreements executed today between the parties. CSCIL already holds 50% stake in ISTCL
CSCIL has also acquired at par 70,000 Equity Shares of Rs 10/- each, representing 1% of the paid-up share capital of ISTCL held by other Ciba Group Company namely Ciba India Private Limited.
With this acquisition ISTCL has ceased to be a Joint Venture Company ISTCL has now become a wholly owned subsidiary of CSCIL.
|
| Mr. Anand Pandit appointed as Director of Sri Adhikari Brothers |
| Sri Adhikari Brothers Television Network Ltd. has informed BSE that at the Board Meeting held on July 26, 2000 Mr. Anand Pandit was appointed as Additional Director of the company. |
| Sri Vishnu Cement Q1 net loss at Rs 12.70 million |
| Sri Vishnu Cement Ltd. has posted a net loss of Rs 12.70 million for the quarter ended June 30, 2000 as compared to a net profit of Rs 5.30 million for the same period last year. Net sales for the quarter ended June 30, 2000 are at Rs 369.70 million as compared to Rs 316.90 million in JQ 99. Other income has fallen from Rs 3.70 million in JQ 99 to Rs 3.30 million in JQ 2000. |
| NIIT approves hike in FII limit |
At the Extra Ordinary General Meeting of NIIT Ltd. held today (August 17, 2000) the members of the company unanimously approved the following:
1. Enhancement of Investment by Foreign Institutional Investors (FIIs) under portfolio scheme from 30% to 40% of the issued & paid up capital of the company.
2. Modifications in Employees Stock Option Scheme for employees of the company and also modification in ESOS for employees of the subsidiary companies of NIIT. |
| Workmen at Roplas Pimpri factory accept VRS |
| Roplas India Ltd. has informed BSE that the company made a proposal to all its workmen numbering 259 for voluntary retirement. The entire work force consisting of 259 workmen has accepted the company's offer pursuant to the Voluntary Retirement Scheme. This will result in complete stoppage of the manufacturing operations of the company at its Pimpri factory. |
| Infosys announces strategic technology partnership with First Atlantic Bank |
Infosys Technologies Ltd. India's leading software company announced that its has established a strategic technology partnership with first Atlantic Bank, erstwhile Comet Merchant Bank of Nigeria. The Bank plans to deploy new generation software solutions from Infosys - Finacle Bankaway and Bunes Remote.
First Atlantic Bank will deploy Finacle the web enabled new generation enterprise banking solution for their retail and trade finance requirements. Infosys has recently re-launched its flagship product, Bancs 2000 as Finacle. Along with Finacle, the Bank will also deploy Bancs Remose, the mobile banking application that will enable the bank to offer its customers banking services at their doorstep. To enable their customers to transact in the e-Age, First Atlantic Bank will deploy Bankaway, the powerful e-Commerce platform from Infosys. BankAway will enable the Bank to offer internet banking services to both its retail and corporate customers.
Says Mr. Femi Pedro, Managing Director of first Atlantic Bank. We were looking for leading edge technology solutions that would enable us to create an IT infrastructures to stay ahead, in the new millennium, Infosys with its solutions designed using Web technology and other powerful tools, proved to be the right fit for this paradigm. He added, first Atlantic Bank has decided to strongly focus on technology. Our strategic partnership with Infosys is an important initiative that will provide the Bank with the much needed business agility to rapidly and proactively respond to new business and technology challenges.
Our solutions, Finacle and BankAway are based on the Web technology paradigm. All our solutions have a new generation architecture and are designed to help banks effectively leverage IT, said Mr. Merwin Fernandes, Associate Vice President and Head Sales and Marketing at the Banking Business Unit of Infosys. He added, We are committed to providing leading edge solutions and quality support to banks in Africa and are extremely happy to partner with a progressive bank like first Atlantic Bank.
Finacle is a centralized and integrated corporate, retail and trade finance solution that is designed to extend the banks reach to the entire enterprise in a seamless manner - from the front office to the back office. It leverages Web technology to enable the bank to integrate with surround web applications, thus creating a powerful bankers desktop. The solution is multi-currency, multi-lingual, multi-platform and workflow enabled.
BankAway, the powerful e-Commerce solution empowers banks to harness the tremendous potential of the internet and internet technology. It provides a bank with the perfect platform to offer an integrated financial services offering to its retail and corporate customers. BankAway was featured in a recent study. Ranking of International Internet Banking Solutions by Meridien Research, USA. BankAway is the only solutions from the entire Asia pacific region, which includes Singapore. Australia, Hong Kong and India among other countries, to be featured in the report. |
Money
Rapid Information on Stocks & Corporates
Tell us what you think of this report
|
